The 21st Century Bear Market

The paper authored by Chief Investment Officer David Ross analyzes and explores cyclic and secular bear markets using P/E, inflation and other factors with a primary emphasis on causal factors that may play important roles in the progress and end of the current bear market. The paper demonstrates that the U.S. stock market is in a protracted bear market that started in 2000 and is likely to continue for several more years.

The paper authored by Chief Investment Officer David Ross analyzes and explores cyclic and secular bear markets using P/E, inflation and other factors with a primary emphasis on causal factors that may play important roles in the progress and end of the current bear market. The paper demonstrates that the U.S. stock market is in a protracted bear market that started in 2000 and is likely to continue for several more years.